11.Jun .2022 19:00

Unemployment in Israel remained low in May

Unemployment in Israel remained low in May
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The unemployment rate in Israel fell to 3.4% in the first half of May, from 3.6% in the second half of April, the Central Bureau of Statistics reports, but higher than the historic low of 2.9% in the first half of April.

There were 143,800 jobseekers in the first half of May, down from 153,000 in the second half of April.

At the same time, the unemployment rate under the broad definition fell to 3.7% in the first half of May from 3.9% in the second half of April. The broad definition includes employees put on unpaid leave at the start of the Covid crisis two years ago and who have still not returned to work. These employees are mainly in the tourist industry.

Participation in the workforce of the working age population in Israel rose to 61.9% in the first half of May from 60.9% in the second half of April.

The Bank of Israel Research Department forecasts 3.5% unemployment at the end of 2022 with a continuing low level of unemployment in 2023, Globes reports